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Assume that Blackwall Tire Store completed the following perpetual inventory transactions for a line of tires: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Compute cost of goods sold and gross profit using the FIFO inventory costing method. A More Info - X Begin by computing the cost of goods sold and cost of ending merchandise inventory using the FIFO inventory costing method. transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of me layers first.) after each It inventory Purchases Unit Cost Total Cost Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity | Cost Cost 30 tires @ $ 10 tires @ $ 20 tires @ $ 20 tires @ $ Dec. 1 Beginning merchandise inventory 11 Purchase 23 Sale 26 Purchase 29 Sale 52 each 64 each 75 each 75 each Quantity Date Dec. 1 Print Done Enter any number in the edit fields and then click Check Answer. Activate Windows Go to Setting to activate me qys. Check Answer 6 parts o remaining Clear All